The New York equities markets were up on Wednesday despite bad news from the area affected by Hurricane Katrina as well as economic news that showed economic growth up less than expected in the second quarter and data showing the manufacturing sector contracting for the first time in two years in August.

Higher oil prices were blamed for the negative economic data. The Dow Jones Industrial Average gained 0.7 percent to 10,484.52, the Nasdaq composite added 1.1 percent to 2,152.09, and the S&P 500 was up by 1 percent to 1,220.31. The S&P energy index gained 2.6 percent, while its insurance index was flat due to worries centered around the amount of damage caused by Katrina.

Insurer Allstate lost 0.8 percent on the day to $56.21, and it has lost nearly 4 percent since the hurricane made landfall on Monday. In contrast American Insurance Group was up 0.1 percent to $59.04.

In the energy sector TransOcean was up 2.6 percent to $59.04, Sunoco gained 5.6 percent to $72.61, and Valero Energy advanced by 10 percent to $106.50.

In the healthcare sector, hospital operator Tenet Healthcare lost 3.8 percent to $12.18 when it said it had closed six facilities because of the effect of Hurricane Katrina.

In more positive territory, luxury jewelry retailer Tiffany gained 12.3 percent to $37.42 on the announcement that its earnings were better than expected in the quarter and that it had raised its guidance for the full year.